Forex Trading Outlook for the Week Ending May 4th

Major economic events around the globe to affect the trading of the currencies for the week ending May 4th, 2012 are as under:

On Monday, Germany reported its data on retail sales while Italy released its data on consumer price index. Spain published its official figure on gross domestic product while the euro zone region reported its separate data on M3 money supply and consumer price index estimate.

In United States, data on personal consumption expenditure, retail sales, personal spending, personal income and Chicago’s purchasing mangers’ index was reported. Moreover, Dallas Federal Reserve also published its data on manufacturing activity. In Canada, data on gross domestic product and raw materials price index was published.

United Kingdom published its hometrack housing survey. In Australia, data on new home sales, and private sector credit was reported.

Today on Tuesday, United States reported its data on ISM’s manufacturing data and construction spending while US Federal Reserve’s official Lockhart spoke on monetary policy at an event.

In United Kingdom data on purchasing managers’ index for manufacturing sector was reported. Australia reported its data on house price index, AiG performance of manufacturing index while the Reserve Bank of Australia announced its decision on interest rates. In Japan, official data on reserve assets and vehicle sales was reported.

On Wednesday, May 2nd, 2012, Italy will release it purchasing managers index for manufacturing sector along with data on budget balance. France and Germany are also expected to report their data on purchasing managers index. Germany will also publish its data on unemployment rate and unemployment change while the euro zone will report its separate data on purchasing managers’ index and the unemployment rate.

In United States, report on MBA mortgage applications, ADP employment change, factory orders, ISM for New York and inventories data for crude oil, gasoline and distillates by US Department of Energy will be published.

In United Kingdom, data on M4 money supply, mortgage approvals, net consumer credit, net lending on Dwellings and purchasing managers index for construction activity is expected. Switzerland will report its figures on retail sales and purchasing managers’ index.

On Thursday, May 3rd, 2012, euro zone will report its data on producer price index while the European Central Bank will announce its decision on its interest rate. United States will report its data on non-farm productivity, unit labor costs, initial jobless claims, continuing claims, ISM’s non manufacturing index and data on natural gas supplies by Energy Information Administration. Moreover, US Federal Reserve’s official will also address on US economy at an event at Santa Barbara.

In United Kingdom, data on purchasing managers index for services sector and official reserves will be published.

On Friday, May 4th, Italy, France and Germany will release their purchasing managers’ index for services sector while euro zone will publish its separate report on PMI services. The single currency region is also to report its data on retail sales on Friday.

In United States, data on average hourly earnings, household employment, change in manufacturing payrolls, change in nonfarm payrolls, unemployment rate, and change in private payrolls is expected while Canada will publish its purchasing managers index. United Kingdom will report its data on new car registrations on Friday.

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